Infineon (IFXGn.DE), the world’s largest producer of automotive microchips, posted a 22% increase in second-quarter revenue and raised its full-year guidance on Monday, benefiting from a global semiconductor shortage.
The Munich-based firm boosted its sales forecast for 2022 for the second time, this time by 500 million euros ($525.20 million) to roughly 13.5 billion euros, with a margin of error of 500 million euros.
According to IBES statistics from Refinitiv, it also anticipated third-quarter sales of 3.4 billion euros, ahead of projections of 3.26 billion euros.
“Global uncertainties, in particular the war in Ukraine and the further course of the coronavirus pandemic, are placing stress on supply chains,” CEO Jochen Hanebeck said in a statement.
“Demand for our products and solutions continues to exceed supply significantly,” he said
Infineon’s second-quarter revenue increased to 3.30 billion euros, exceeding projections of 3.21 billion euros.